There have been two great waves of the American deregulation debate. The first was during the Carter-Reagan era, when entire industries — airlines, railroads, trucking, natural gas, long-distance telephone service — were freed from government constraints on what markets they served and what prices they charged.

The region’s ‘economic base’ model sees an eventual cooling of the recent rapid expansion, more in line with the current national trend.

After a brutal year, local leading economic indicators are pointing upward, and the next decade looks even more promising.